Neptune Insurance (NYSE:NP) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho raised its price target on Neptune Insurance from $29 to $32 while keeping a neutral rating, implying only modest upside from the prior close.
• Other analysts are mixed but generally constructive, with recent calls ranging from outperform/overweight to market perform; the stock’s overall consensus rating remains Hold with an average target of $28.82.
• Neptune Insurance reported solid recent results, meeting earnings expectations and posting quarterly revenue growth of 28.8% year over year, even as insiders have recently sold shares.

Neptune Insurance (NYSE:NP - Get Free Report) had its target price raised by equities research analysts at Mizuho from $29.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price target suggests a potential upside of 1.53% from the company's previous close.

A number of other brokerages also recently commented on NP. Morgan Stanley lifted their price target on shares of Neptune Insurance from $26.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, May 21st. Evercore reiterated an "outperform" rating on shares of Neptune Insurance in a report on Friday, May 8th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $34.00 price objective (up from $32.00) on shares of Neptune Insurance in a research report on Wednesday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Neptune Insurance in a research note on Monday, April 20th. Finally, Wells Fargo & Company assumed coverage on shares of Neptune Insurance in a research report on Tuesday, June 30th. They set an "overweight" rating and a $35.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $28.82.

Neptune Insurance Trading Up 0.0%

Shares of NYSE NP opened at $31.52 on Thursday. Neptune Insurance has a 52 week low of $14.78 and a 52 week high of $34.61. The company's 50-day moving average price is $28.26 and its 200 day moving average price is $25.83. The stock has a market cap of $4.36 billion and a price-to-earnings ratio of 117.40.

Neptune Insurance (NYSE:NP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. The firm's quarterly revenue was up 28.8% compared to the same quarter last year. As a group, research analysts expect that Neptune Insurance will post 0.4 earnings per share for the current year.

Insider Transactions at Neptune Insurance

In other news, major shareholder Vii L.P. Ftv sold 787,806 shares of Neptune Insurance stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $26.40, for a total value of $20,798,078.40. Following the completion of the transaction, the insider directly owned 16,310,781 shares of the company's stock, valued at approximately $430,604,618.40. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total transaction of $18,173,839.20. Following the completion of the transaction, the insider owned 14,252,718 shares of the company's stock, valued at approximately $376,271,755.20. This trade represents a 4.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 11,317,604 shares of company stock worth $298,784,746. Corporate insiders own 74.26% of the company's stock.

Institutional Investors Weigh In On Neptune Insurance

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN purchased a new position in shares of Neptune Insurance in the fourth quarter worth approximately $28,000. PNC Financial Services Group Inc. grew its holdings in shares of Neptune Insurance by 73.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,440 shares of the company's stock valued at $180,000 after acquiring an additional 3,146 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Neptune Insurance in the third quarter worth $171,000. Symmetry Investments LP acquired a new position in shares of Neptune Insurance in the fourth quarter worth $204,000. Finally, FJ Capital Management LLC purchased a new stake in shares of Neptune Insurance during the fourth quarter worth $289,000.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.